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Monday, 18 April 2016

INFOSYS PLAYED MAGICAL ROLE HELPING NIFTY CROSS HURDLE OF 7900

BUY
IBREALEST ABOVE 57.70 TGT 58.90/60.50 SL 56.40

Infosys came
out with better-than-expected results and that's why we are seeing some cheer
in the market but this has to be followed up by TCS Infosys helped the BSE Sensex
gain more than 200 points intraday Monday despite weakness in global peers due
to slump in oil prices. The broader markets outperformed benchmarks with the Midcap
and Smallcap indices rising more than 1 percent. Sensex ended with a gain of 189 points at
25816. Sensex opened at 25833 touched an intra-day high of 25870 and low of 25634.
The NSE Nifty closed with a gain of 64 points at 7915. The NSE Nifty opened at
7908 hitting a high of, 921 and low of 7843. Infosys was the biggest gainer on Sensex
today, up 5.7 percent after operating profit in March quarter. Even its FY17
dollar revenue guidance of 11.8-13.8 % is better than Nasscom's industry growth
forecast of 10-13 %. Tata Consultancy Services dropped 2% to Rs.2472 ahead
of Q4 numbers. The company will announce its Q4 numbers today. TCS received a
jury verdict in a recently completed jury trial in a lawsuit filed by Epic
Systems in the court of Western District Madison, Wisconsin. Globally, markets
were lower as oil tumbled after top oil producers failed to reach an agreement
to freeze production. In Asia, Japan's Nikkei lost 3.4 percent, taking a hit
from large earthquakes last week. Shanghai was down 1.4 percent and Hang Seng
declined 0.7 percent. European markets recovered early losses to trade flat The
broader markets continued to outperform benchmarks with the BSE Midcap and Small
cap indices rising around a percent each but the market breadth was slightly
positive. About 1351 shares advanced against 1133 declining shares on Bombay
Stock Exchange